CTS (NYSE:CTS) Releases Earnings Results, Beats Estimates By $0.06 EPS

CTS (NYSE:CTS) released its quarterly earnings results on Tuesday. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06, Zacks reports. CTS had a return on equity of 11.98% and a net margin of 10.70%. The company had revenue of $132.42 million for the quarter. During the same quarter in the previous year, the company posted $0.54 EPS. CTS updated its FY24 guidance to $2.05-2.25 EPS and its FY 2024 guidance to 2.050-2.250 EPS.

CTS Trading Up 2.1 %

CTS stock traded up $1.03 during midday trading on Wednesday, reaching $50.76. The company’s stock had a trading volume of 213,569 shares, compared to its average volume of 148,927. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. The stock has a fifty day simple moving average of $47.77 and a two-hundred day simple moving average of $49.14. CTS has a 1 year low of $35.50 and a 1 year high of $55.47. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 29.86 and a beta of 0.57.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were paid a $0.04 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. CTS’s payout ratio is 9.41%.

Wall Street Analysts Forecast Growth

CTS has been the topic of several recent research reports. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.